French chipmaker Sequans sells 1,025 Bitcoin amid $54M loss and debt pressure

French IoT chipmaker Sequans Communications sold 1,025 Bitcoin in Q1 2026 to raise liquidity after reporting a $54.3 million net loss and revenue drop to $6.1 million. The company reduced its Bitcoin holdings from 2,139 to 1,114 BTC, incurring $29.3 million in unrealized losses and $11.7 million in realized losses. With 73% of remaining Bitcoin pledged as debt collateral, Sequans plans to exit its crypto treasury strategy by June 1, 2026. This move reflects broader caution among companies using crypto assets amid market volatility and operational challenges.